EU: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in the EU

The EU electrical musical instrument market expanded remarkably to $X in 2022, growing by X% against the previous year. Overall, consumption continues to indicate buoyant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Electrical Musical Instrument Production in the EU

In value terms, electrical musical instrument production shrank modestly to $X in 2022 estimated in export price. In general, production showed a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electrical Musical Instrument Exports

Exports in the EU

In 2022, shipments abroad of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of export peaked at X units in 2021, and then declined modestly in the following year.

In value terms, electrical musical instrument exports expanded significantly to $X in 2022. Overall, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The Netherlands represented the major exporter of electrical musical or keyboard instruments in the European Union, with the volume of exports finishing at X units, which was approx. X% of total exports in 2022. It was distantly followed by Germany (X units) and Belgium (X units), together generating a X% share of total exports. France (X units), Sweden (X units) and Italy (X units) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical musical instrument supplying countries in the European Union were Germany ($X), the Netherlands ($X) and Belgium ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Belgium, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2015 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced a decline in the export price figures.

Electrical Musical Instrument Imports

Imports in the EU

After five years of growth, supplies from abroad of electrical musical or keyboard instruments decreased by X% to X units in 2022. Over the period under review, imports, however, showed strong growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then shrank in the following year.

In value terms, electrical musical instrument imports fell to $X in 2022. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

Germany represented the key importer of electrical musical or keyboard instruments in the European Union, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. The Netherlands (X units) held an X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%), Belgium (X%), Italy (X%) and Spain (X%). Sweden (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Belgium, Spain, Italy and Sweden lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Belgium, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per unit), while Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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